The mechanism of the Crypto market is hype and market manipulation. No exception. Even BTC and ETH are the same case. XRP will never replace Swift. In the real world, public blockchains are pretty much useless. They are standing only for crypto trading. The king of crypto, BTC, and the Queen of crypto, ETH are not the exception. You heard some news about some companies or governments accepting some blockchain technologies. Those blockchains are mostly private blockchains and no crypto trading is required. Marketing and pump/dump are the most important factor to be a major coin. We see the DOGE and Shiba INU, and Solana shouldn’t be the exception.
So my question is “Did you buy XCH? or Would you like to buy XCH?”. Your answer is probably no(at least for now). The best strategy so far for XCH farmers is to sell XCH as soon as they farm it. Whenever you sell XCH today, you could buy more XCH tomorrow. That is why most of the farmers just dump the XCH every day. All most all coins have market makers, and they pump and dump them. Volatility is important. If not, no reason to invest money in coins rather than investing money in Big Tech stocks. It is all about the risk/profit analysis. Look at the Solana chart. Solana is pretty much a young coin. They have made a lot of effort on marketing, giving the market to have hype on Solana.
I got into the crypto market in 2014. I found out from my experience that technologies are not the major factors for the price to be increased. I still think ETH is way better than BTC in terms of technologies and functionality. However, BTC will never give the crown to the ETH, because the market makers of the BTC have much more money than ETH market makers. For several weeks, lots of positive news related to the XCH coin have been released but the price keeps tanking. If Chia has a market maker, like most other coins, the price would have been pumped price much with World Bank News and Costa Rica News. That is what happened to other coins normally. But the XCH price has already been dropped from $1.6k to $140 for several months while the BTC price was reached to ATH.
It seems like Chia company has no marketing team. They should have said that “we do care about xch buyers and farmers profit, and we try to do our best to increase the value of XCH” rather than saying “we don’t care about the current price” I have never seen a company that doesn’t care about the customers’ profit. The company doesn’t have to give up marketing while developing technologies. Engineers and developers are doing their job and marketers can do their job, like other companies. Marketing doesn’t have to be given up for developing technologies. Chia company should know why Apple company still pays billions of dollars for marketing and advertising even though they have been a lot of loyal customers and world-leading company.
Chia company should give farmers the reason to hold their coin, showing that holding their coin would give farmers or XCH buyers more profit. It has been only a small pump and dump theme, and only a downward trend.
